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Entire OTC Market Breaks As Finra Halts All Quotes And Trading
As we noted earlier, today's Twitter IPO, while pricing without the Facebook associated histrionics or crashing the NASDAQ, has had an impact on markets. A rather profound impact it appears, because as the OTC BB site, the host of pink sheet, OTC and Bulletin Board stocks just reported, the entire OTC market has been shut down by Finra.
From OTCBB:
Market Wide Quotation and Trading Halt for All OTC Equity Securities
On Thursday, November 7, 2013, the Financial Industry Regulatory Authority, Inc. (“FINRA”) halted trading in all OTC Equity Securities pursuant to FINRA Rule 6440(a)(3). FINRA determined to impose a temporary halt because of a lack of current quotation information. Therefore, FINRA has determined that halting quoting and trading in all OTC Equity Securities is appropriate to protect investors and ensure a fair and orderly marketplace. The trading and quotation halt began on Thursday, November 7, 2013, at 11:25:00 a.m. E.T. FINRA will notify the market when trading may resume.
Contact Information: Questions regarding this notice can be directed to: FINRA Operations at (866) 776-0800.
So to protect investors, Finra is shutting down the entire market. Let's hope this is not just a test of what is coming to far more liquid exchanges.
As to why the entire OTC BB market just break? Who knows, or cares. As long as the NYSE, and more importantly Twitter, is fine all is well.
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What market? We don't have no stinking market?
We have a bunch of programs running.
I would sooner trust bitcoins
.....call me when alcohol production has been halted
Death rattles
“a fair.. marketplace”
On what freaking planet?
"DefCon 4"?
Is the end near? Certainly nearer...
If carbon life forms, and maybe even some Al Gore rhythms are going to sell, threatening BernYellen's 'un-Virtuous Circle Jerk,' we'll just shut it down, bitchez.
My trading platform has been working fine today. I don't see this issue in major stocks like SPY, DIA, GDX, GLD etc.
"You own it you broke it" -Powell's Colon
I see bids on these crappy stocks.....what gives?
Copying my investment style. You see, I like to wait for rumors coming from the rear that the generals are being shot. Then I charge out of my foxhole a snorting bull.
/sarc
Brew/distill your own! We do. It's the only way to be sure.
ironically we need to thank President Carter for the 'right' to home brew. (cuz it was evil before he said it was OK)
He finally caved in to brother Billys constant badgering.
Kill me when alcohol production has been halted!
Twitchez, bitchez!
When is ben going to dump another 85 bill into this market....2:30?
Ya, Ve Vill not let ze market drop, we are in control.............
Back in the Day of Fibo 61 Retracement, Leader Indices confirming a top
Back in the day, the market was content with a 61 Fibonacci Retracement.
Starting around 2009, the market started insisting on 78 Fibo's. Now seeing more 100% Fibos to blast the stop of anyone who got in on a trend change.
Some great index charts here, showing clear top that I have been calling for a week, check them out.
http://oahutrading.blogspot.com/2013/11/back-in-day-of-fibo-61- retracement.html
.....is there boobs?
And the journey to get to Wallyworld was so long and arduous...
Actually this market (OTC pinks) is the wild west casino, there are rules, you have to know them for success, it is 98% assured you will lose, and 2% you win big. In the regular markets, this is true, too, but no one knows.
edit: ...should read... "In their "(un)real" markets"... not... "In the regular markets"...
Cryin' won't help you, prayin' won't do you no good,
Now, cryin' won't help you, prayin' won't do you no good,
When the levee breaks, mama, you got to move.
Anyone else 'LONG' rope?
..surgical steel, wood, too
Pfffft....who needs pricing in this "market"? Minor nationalized healthcare-like glitch.
If something like this can happen to markets backed by governments and 100 year old instutions, why would someone own gold which is backed by nothing?
Pretty sure you know you just answered your own question when you asked it....
Because one day soon their currencies will come crashing down, If a goverment falls then where is the currencys backing them?
Sad that the sarc tags are required here too these days...
Gold is "something" thus needs no backing with "something". Fiat is paper, markets are didgets. "Paper covers rock" was a rule undoubtedly started by a future banker, little %$#^& !
P.S. I know you just forgot the "/sarc", gave a plus 1.
Black Helicopters are circling the building, ladies and gentlemen!
Actually I believe they painted them blue from the underside so they look nice like blue sky when looking at them from the gorund.....
Everything is blue sky, move along
Call it a market holiday or market intermission instead. It sounds better.
Like when they close the banks due to a dollar crash they'll call it a bank holiday.
Banks call 2nd mortgages Home Equity loans. It doesn't sound nearly as bad.
Interesting...people still trade?
(I assume machines would not need notice)
what an absolute crock of shit..... everytime I go short and it looks like the market is going the break they stop trading... WTF happend to the good old days when panic was allowed...
Only a terrrrista shorts the USSA!! Off to re-ed camp for you buddy! ;) This is not really meant to be a joke. I have a baaaaad feeling that if this fucker collapses and my shorts "come in" that I will never be allowed to keep my "ill-gotten/terrorist type" gains.
Of course they will never be paid.Another reason no one is shorting this Bedlam.
Are you guys sure it wasn't at 11:20 am?
Sure does look like so.
Totally controlled. Any time it heads down they halt. Only one direction allowed. Up.
This is why a crash or even a decent correction will ever occur again. The market will just go down for an indefinite period of time. Of course the people over at Silk Road X will be open for trading everything including stocks and bonds.
No.
You couldn't possibly make ANY of this shit up that's been happening in the last 5 years!
The remedy?
Time for another glass filled to the brim with ice and a bottle of Maker's Mark.
New rules for anyone still in the market?
Cocktail time should promptly commence for everyone "in it" at 9:30am sharp and finish at 5:15pm when we hear the "bell toll for thee".
hold the ice.
there is a reason why they call it neat....
Spoken like a true purist with courage and wisdom.
Glad I don't drink anymore.With the shit over the last five years I would have been
blotto by 0730 every day,.just topping up from the previous night.
"All the race horses will be stopped in place- until selected horses are fitted with skates. Then the race will resume..."
Great metaphor. I think amusement parks still call it a carousel ride?
The market is going down, therefore close the complete 'market'.
What a Farce
It's why the Fed laughs at any notion of price discovery. They'll just hype and lie until everything goes their way.
Housing is a different story because you have physical assets that must be owned. When people can't afford the rent they will consolidate and live together (what's happening now).
The Fed can keep jacking up assets through buying everything up but it won't clear out the excesses and it's like Japan where it really never recovers.
More and more debt and QE to support it.
Exactly, during the depression my parents told me that many families had sons, daughters, including sons and daughter in laws living with them and without a single stick going up there was tons of housing available for rent. Wait till the hedge funds and the speculators I know who have purchased multiple properties, with the assumption that there will be full occupancy everywhere, find out that they won't even get a free tube of KY when it blows up.
Almost all cities, townships, villages, etc. have ordinances setting a maximum ratio of people to square feet that can live in a residential dwelling...
...it's for public "health, safety & welfare" reasons (and the children), and not property tax reasons, don't 'ya know...
SF last year lowered the minimum size for apartments to 200 sq ft, not sure if there is an occupancy limit at all.
Oh now Portland http://www.oregonlive.com/front-porch/index.ssf/2013/11/micro-apartments...
BTW has anybody else noticed Yahoo for the past few years has been running "micro-housing" features for about 45 of 52 weeks a year?
That's a shitload of expensive advertising for an industry that doesn't really exist yet.
The funny thing is this is becoming a weekly event....almost daily.....someone is testing something...piece by piece..
Verily.
Unlike.gov someone is checking ou their doomsday scenario with adequate testing.
2014 is looking more likely by the day.Others are now jumping on @shadowstats timing
for a total collapse.At least Williams has been consistent in bringing his date forward
as events happen.
Plan on it from here on out to be a weekly if not "daily" occurrence with increasing frequency until it reaches it's conclusion.
As long as 'those in charge' aren't willing to question it, the buffet is open and it's "All you can eat".
they can get the former obamacare programmers to take care of it.
My My My. Sure am glad I'm in Physical and Cryptocurreny.